Thanks for your reply Custodian.
Double checked the server directory, but there is no '_CommonRedist' directory. It's missing or was never downloaded/created. We are using SteamCMD to update our LiF server as a post-start running script. Could be one of the reasons that the files are missing
I'm currently downloading the missing redistributable .. but have to wait for a server admin with administrative privileges to install.
edit:
Static link of runtime can cause different issues, like heap management, if application is linked against other libs with dynamic runtime and they share memory management.
I quite understand your objection, but I would suggest a small reference in patch notes if a patch leads to new dependencies